Phunware (NASDAQ:PHUN) Lowered to Neutral Rating by HC Wainwright

Phunware (NASDAQ:PHUN) was downgraded by investment analysts at HC Wainwright from a “buy” rating to a “neutral” rating in a report issued on Tuesday, Marketbeat Ratings reports. They presently have a $6.00 price objective on the stock, down from their previous price objective of $9.00. HC Wainwright’s target price would indicate a potential upside of 20.00% from the stock’s current price.

Separately, Ascendiant Capital Markets lowered their price objective on Phunware from $22.00 to $20.00 and set a “buy” rating for the company in a research report on Tuesday, September 3rd.

Phunware Trading Down 6.4 %

Shares of NASDAQ:PHUN opened at $5.00 on Tuesday. The company has a debt-to-equity ratio of 0.02, a current ratio of 3.80 and a quick ratio of 2.82. The stock has a 50 day moving average price of $5.28 and a 200-day moving average price of $5.31. Phunware has a 52-week low of $2.85 and a 52-week high of $24.49.

Institutional Trading of Phunware

A hedge fund recently bought a new stake in Phunware stock. Virtu Financial LLC purchased a new position in Phunware, Inc. (NASDAQ:PHUN) in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 10,196 shares of the company’s stock, valued at approximately $91,000. Virtu Financial LLC owned about 0.12% of Phunware at the end of the most recent reporting period. 7.57% of the stock is currently owned by hedge funds and other institutional investors.

Phunware Company Profile

Phunware, Inc, together with its subsidiaries, provides integrated software platform that equips companies with the products, solutions, and services to engage, manage, and monetize their mobile application portfolios in the United States and internationally. The company's products and services include mobile software and application transaction solutions comprise integration of software development kit (SDK) licenses, which consists of analytics that offers data related to application use and engagement; content management that allows application administrators to create and manage app content in a cloud-based portal; alerts, notifications, and messaging, which enables brands to send messages; marketing automation that enables location-triggered messages and workflow; advertising; and location-based services, such as mapping, navigation, wayfinding, workflow, asset management, and policy enforcement.